Is the bottom in for Ripple?

  • XRP price continues to be denied by the upside hurdle from $0.381 to $0.392.
  • A reversal of the $0.403 resistance level to the support floor will pave the way for a revisit of $0.448 and $0.509.
  • Our bullish view on Ripple will be invalidated if the candlestick breaks down of $0.288.

XRP Price Shows Constant Inflow buying pressure, marking the higher low since the Nov. 9 crash. However, overhead barriers are stubborn and continue to absorb buying pressure from the Ripple bulls. This level reversal determines the next course of action for the remittance token.

XRP Price and Potential Bottom Levels

Since the crash on June 18th, XRP has been hovering near $0.288. but, managed to explode It failed to hold as it broke the $0.381 hurdle on Sept. 20. Furthermore, deteriorating market conditions and declining purchasing power triggered a reversal, with Ripple falling below his level of the $0.381 resistance.

From a higher timeframe perspective, the $0.288 level is the local bottom for now. As long as the price of XRP rises by $0.381 and stays above it, you don’t have to think about how cheap your remittance token will be.

The $0.441 level, which is about 18% off the current position, is the first target for the bulls. Like the $0.381 hurdle, this barrier is also difficult to break. however, successful flip This blockade could push XRP price back to the $0.509 level.

XRP/USDT 1-day chart

XRP prices aren’t doing very well right now, but a break below the $0.288 support level will create lower lows and invalidate the bullish thesis. This development could see Ripple revisit his $0.253 footing, the levels last seen in January 2021.

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